The Worst is over says Carlos Ghosn, Renault-Nissan Boss

The European car market has stopped declining and is actually set for a period of growth, according to Carlos Ghosn, the Renault-Nissan boss.  Ghosn recently said at the Frankfurt Motor Show that the predictions from analysts were backed by the companies own analysis, which said that three areas of growth were in line, a growing car market, a rise in used car prices and a buoyant used car market. He went on to say that there are a number of indicators, all of them point to the end of the decline period. He explained that they have entered the third phase of recovery, where new car sales appear to be rising again. He said that the company expects to stay there, growing around 1 or 2% each year, for the next few years. 

In the first six months of this year, the European car market dropped by a further 7%, though it is expected to bounce back to finish the year down 5%. Ghosn said that from next year, the figures will rise. He explained that the worst is now over, Renault are rather confident that the European slope has stopped declining, though it also wont rise significantly until the confidence of consumers is back. He went on to say that until Governments across Europe show that they will support the growth of the car market and not fight deficits, the situation is likely to remain the same. He identified China, Russia, India and the United States as the markets which have the biggest immediate growth potential, though he urged caution on prospects in Indonesia, Japan and Brazil.